Pope says free market, ‘trickle-down’ policies fail society

By Philip Pullella
Oct.4,2020

VATICAN CITY (Reuters) – Pope Francis said on Sunday that the COVID-19 pandemic was the latest crisis to prove that market forces alone and “trickle-down” economic policies had failed to produce the social benefits their proponents claim.

 

In an encyclical on the theme of human fraternity, Francis also said private property cannot be considered an absolute right in all cases where some lived extravagantly while others had nothing.

Called “Fratelli Tutti” (Brothers All), the encyclical’s title prompted criticism for not using inclusive language after it was announced last month.

In Italian, Fratelli means brothers but it is also used to mean brothers and sisters. The Vatican said it was taken from the “Admonitions”, or guidelines, written by St Francis of Assisi in the 13th century to his followers and could not be changed.

Read more at https://www.reuters.com/article/us-pope-encyclical/pope-says-free-market-trickle-down-policies-fail-society-idUSKBN26P0E1